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Forum Energy Technologies, Inc.

NYSE•FET
CEO: Mr. Neal A. Lux
Sector: Energy
Industry: Oil & Gas Equipment & Services
Listing Date: 2012-04-12
Forum Energy Technologies, Inc. designs, manufactures, and distributes products serving the oil, natural gas, industrial, and renewable energy industries in the United States and internationally. It operates through three segments: Drilling & Downhole, Completions, and Production. The Drilling & Downhole segment designs, manufactures, and supplies products, and provides related services to the drilling, well construction, artificial lift, and subsea energy construction and services markets, including applications in oil and natural gas, renewable energy, defense, and communications. This segment offers drilling technologies consisting of capital equipment and a line of products consumed in the drilling process; well construction casing and cementing equipment, and products for artificial lift equipment and cables; and subsea remotely operated vehicles and trenchers, submarine rescue vehicles, specialty components and tools, and technical services. The Completions segment offers hydraulic fracturing pumps, cooling systems, high-pressure flexible hoses, and flow iron for pressure pumping markets; wireline cable and pressure control equipment for well completion and intervention service markets; and coiled tubing strings and coiled line pipe and related services. The Production segment designs, manufactures, and supplies products, and provides related equipment and services for production and infrastructure markets. This segment offers engineered process systems, production equipment, specialty separation equipment, and various industrial valves for oil and natural gas customers, power generation, renewable energy, and other general industrial applications. The company was formerly known as Forum Oilfield Technologies, Inc. and changed its name to Forum Energy Technologies, Inc. in August 2010. Forum Energy Technologies, Inc. was incorporated in 2005 and is headquartered in Houston, Texas.
Contact Information
10344 Sam Houston Park Drive, Suite 300, Houston, TX, 77064, United States
713-351-7900
www.f-e-t.com
Market Cap
$635.42M
P/E (TTM)
-65.1
31.4
Dividend Yield
--
52W High
$63.58
52W Low
$13.55
52W Range
85%
Rank60Top 89.2%
2.1
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 2.1 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q4 2025 Data

Revenue

$202.20M+0.00%
4-Quarter Trend

EPS

$0.18+0.00%
4-Quarter Trend

FCF

$20.88M+0.00%
4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Net Loss Significantly Reduced Net loss dramatically improved 92.9% to $(9.7M) in 2025; driven by lower other expenses and no major asset impairments.
Backlog Increased Substantially Total backlog grew to $311.6M by year-end 2025, up from $213.5M in 2024, indicating strong future commitments.
D&C Revenue Outperforms A&D Drilling and Completions revenue increased 1.4% to $477.2M; Artificial Lift and Downhole revenue declined 8.9% to $314.8M.
Total Bookings Increased Total inbound orders reached $891.0M in 2025, showing a $110.7M increase over $780.3M booked in 2024.

Risk Factors

Gross Profit Declines Sharply Total gross profit fell 14.1% to $219.0M in 2025, pressured by inventory write-downs and lower pricing realization.
Commodity Price Volatility Risk Business success heavily depends on volatile oil and natural gas activity levels, which management cannot control.
Inventory Write-downs Impact Recognized $19.7M in inventory write-downs in 2025 due to strategic facility consolidation and product discontinuation efforts.
Hydraulic Fracturing Regulation Risk Potential legislation restricting hydraulic fracturing use could severely limit demand for products across key customer segments.

Outlook

Long-Term Energy Demand Rises Expect long-term energy demand to rise, focusing product development on helping oil/gas operators lower expenses and emissions.
2026 Capital Expenditure Plan Anticipate 2026 capital expenditures around $10.0M USD, focused mainly on replacement of end-of-life machinery and equipment.
Adequate Liquidity Forecast Available cash and Credit Facility availability expected adequate for 12 months; potential cash used to reduce outstanding debt.
Credit Facility Maturity Extended Credit Facility maturity extended to February 2031 via amendment; interest margin structure revised based on excess availability.

Peer Comparison

Revenue (TTM)

JKS stock ticker logoJKS
$9.50B
-34.4%
FET stock ticker logoFET
$791.47M
-3.1%
OIS stock ticker logoOIS
$668.99M
-3.4%

Gross Margin (Latest Quarter)

GPRK stock ticker logoGPRK
36.4%
-3.8pp
NGS stock ticker logoNGS
35.6%
-0.0pp
OBE stock ticker logoOBE
32.0%
-10.6pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
OBE$679.80M26.42.5%11.6%
FET$635.42M-65.1-3.1%30.8%
OIS$615.24M-5.4-16.5%9.9%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
1.5%
Moderate Growth
4Q Net Income CAGR
22.7%
Profitability Improved
Cash Flow Stability
100%
Strong Cash Flow

Deep Research

Next earnings:Apr 29, 2026
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LTM
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